Analysis: Trend and Price Action
NVDA is trading at $139.58, consolidating after a strong move upward. It is holding above both the 9 EMA and 21 EMA on the 1-hour chart, which suggests continued bullish momentum. However, the stock is nearing a key gamma resistance at $141, and consolidation indicates a potential breakout or pullback soon.
Volume Analysis: Volume has declined slightly during this consolidation phase, which is typical before a major move. Watch for volume spikes near $140 or $138 to confirm direction.
GEX and Options Oscillator Insights
* Gamma Exposure (GEX):
* Major Call Wall: $141 (key resistance).
* PUT Wall: $132 (strong support level).
* Highest Net GEX: $138, acting as a crucial pivot.
* Options Oscillator (IVR and IVx):
* IVR: 6.6, indicating relatively low implied volatility.
* IVx Avg: 43, suggesting subdued options premiums, ideal for swing trades.
Key Levels
Support
* $138: Critical gamma pivot and support.
* $133: Intermediate support.
* $126.4: Strong historical support.
Resistance
* $140: Immediate resistance.
* $141: Major gamma resistance and breakout zone.
* $147: Extended resistance if momentum continues.
Trade Scenarios
Scalping Strategy
* Bullish:
* Entry: Above $140.
* Target: $141.
* Stop Loss: $139.
* Strategy: Look for a breakout confirmation with RSI and volume spike.
* Bearish:
* Entry: Below $138.
* Target: $137.
* Stop Loss: $139.
* Strategy: Watch for EMA crossover and RSI bearish divergence.
Swing Trading Strategy
* Bullish Swing Setup:
* Entry: Sustained close above $141 with strong volume.
* Target 1: $145.
* Target 2: $147.
* Stop Loss: $138.
* Bearish Swing Setup:
* Entry: Break below $138 with strong selling volume.
* Target 1: $133.
* Target 2: $132.
* Stop Loss: $140.
Indicators Review
* 9 EMA and 21 EMA: Price remains above both EMAs, confirming bullish bias.
* MACD: Flat, indicating consolidation. A crossover will signal the next move.
* RSI: Neutral, not overbought or oversold.
Outlook
* Scalping: Focus on momentum above $140 for bullish trades or below $138 for bearish plays.
* Swing: A breakout above $141 signals further upside, while a failure could lead to a pullback toward $133 or lower.
Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always perform your own due diligence and manage your risk effectively.
NVDA is trading at $139.58, consolidating after a strong move upward. It is holding above both the 9 EMA and 21 EMA on the 1-hour chart, which suggests continued bullish momentum. However, the stock is nearing a key gamma resistance at $141, and consolidation indicates a potential breakout or pullback soon.
Volume Analysis: Volume has declined slightly during this consolidation phase, which is typical before a major move. Watch for volume spikes near $140 or $138 to confirm direction.
GEX and Options Oscillator Insights
* Gamma Exposure (GEX):
* Major Call Wall: $141 (key resistance).
* PUT Wall: $132 (strong support level).
* Highest Net GEX: $138, acting as a crucial pivot.
* Options Oscillator (IVR and IVx):
* IVR: 6.6, indicating relatively low implied volatility.
* IVx Avg: 43, suggesting subdued options premiums, ideal for swing trades.
Key Levels
Support
* $138: Critical gamma pivot and support.
* $133: Intermediate support.
* $126.4: Strong historical support.
Resistance
* $140: Immediate resistance.
* $141: Major gamma resistance and breakout zone.
* $147: Extended resistance if momentum continues.
Trade Scenarios
Scalping Strategy
* Bullish:
* Entry: Above $140.
* Target: $141.
* Stop Loss: $139.
* Strategy: Look for a breakout confirmation with RSI and volume spike.
* Bearish:
* Entry: Below $138.
* Target: $137.
* Stop Loss: $139.
* Strategy: Watch for EMA crossover and RSI bearish divergence.
Swing Trading Strategy
* Bullish Swing Setup:
* Entry: Sustained close above $141 with strong volume.
* Target 1: $145.
* Target 2: $147.
* Stop Loss: $138.
* Bearish Swing Setup:
* Entry: Break below $138 with strong selling volume.
* Target 1: $133.
* Target 2: $132.
* Stop Loss: $140.
Indicators Review
* 9 EMA and 21 EMA: Price remains above both EMAs, confirming bullish bias.
* MACD: Flat, indicating consolidation. A crossover will signal the next move.
* RSI: Neutral, not overbought or oversold.
Outlook
* Scalping: Focus on momentum above $140 for bullish trades or below $138 for bearish plays.
* Swing: A breakout above $141 signals further upside, while a failure could lead to a pullback toward $133 or lower.
Disclaimer This analysis is for educational purposes only and does not constitute financial advice. Always perform your own due diligence and manage your risk effectively.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.